Rathbones Group PLC Lowers Stock Position in AutoZone, Inc. $AZO

Rathbones Group PLC lowered its position in AutoZone, Inc. (NYSE:AZO) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,440 shares of the company’s stock after selling 1,200 shares during the period. Rathbones Group PLC’s holdings in AutoZone were worth $25,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone in the third quarter valued at about $26,000. Turning Point Benefit Group Inc. purchased a new stake in AutoZone during the third quarter worth about $25,000. Torren Management LLC purchased a new stake in AutoZone during the fourth quarter worth about $27,000. Newbridge Financial Services Group Inc. purchased a new stake in AutoZone during the third quarter worth about $43,000. Finally, Elevated Capital Advisors LLC purchased a new stake in AutoZone during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 0.4%

Shares of NYSE:AZO opened at $3,433.88 on Friday. The firm has a market capitalization of $56.59 billion, a PE ratio of 24.06, a P/E/G ratio of 1.75 and a beta of 0.43. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a 50-day moving average price of $3,467.83 and a two-hundred day moving average price of $3,586.78.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $28.29 earnings per share. Analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Evercore raised their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Citigroup raised their price objective on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Morgan Stanley raised their price objective on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Finally, Truist Financial decreased their price objective on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $4,290.91.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by corporate insiders.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do?it?yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.